During 20B, its second year in operation, Banner Company delivered goods to customers for which customers paid or promised to pay $5,850,000. Assume all sales were on account and the amount of cash collected from customers was $5,960,000. The amount of trade receivables at the beginning of 20B was $1,200,000. Based on this information, what is the amount of trade receivables that Banner would report at the end of 20B?
A) $1,310,000.
B) $5,850,000.
C) $1,090,000.
D) $110,000.
Correct Answer:
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